The S&P hit a new high, but the BDC sector dropped. Leading the news – despite multiple earnings releases – was the decision by one BDC to quit and become a national bank.
Main Street Capital provides some basic information about a new transaction with a portfolio company. The BDC Reporter fills in many of the blanks of what seems like a very successful and long standing investment.
BDC earnings season begins with strong results from three very different BDCs as the sector remains at new price highs. We also share two important credit developments that affect multiple BDCs, drawn from the BDC Credit Reporter.
After a day away, we publish two days worth of annotated BDC news coming from some of the sector’s most recognizable names.
Main Street Capital was much improved in the IVQ 2020 as discussed on its latest conference call.
Main Street Capital offers up some preliminary metrics about one of its 3 investing segments. Unfortunately, the data leaves the BDC Reporter with more questions than answers.
Main Street Capital issues new unsecured debt on very favorable terms. The BDC Reporter looks at the impact on leverage, earnings and the outlook for the BDC both in the short and longer term.
Main Street is not deterred by the bankruptcy filing of one of its restaurant companies. Indeed, the BDC – and sister fund HMS Income – are doubling down and – with an equity partner – acquiring the assets of the bankrupt business.